Kalera S.A. — Board/Management Information 2021

Dec 13, 2021

Kalera option allocation Curtis McWilliams as Interim CEO

Kalera option allocation Curtis McWilliams as Interim CEO

ORLANDO, FL, (December 13, 2021) — Kalera AS (Euronext Growth Oslo: KAL, Bloomberg: KSLLF), has previously announced the appointment of Curtis McWilliams, who was recently elected to Kalera’s Board of Directors, as interim President and Chief Executive Officer.

Mr. McWilliams is an accomplished Executive, Director and Board Chairman with a strong reputation within the investment community. He has over 25 years of experience in finance and real estate and will provide Kalera with invaluable leadership as the Company continues to pursue strategic growth. Curtis currently serves as the Non-Executive Chairman of the Ardmore Shipping Corporation (NYSE, ASC). McWilliams is also the Lead Director of Braemar Hotels & Resorts Inc (NYSE BHR). He retired from his position as President and Chief Executive Officer of CNL Real Estate Advisors, Inc. in 2010. He has also served on numerous other boards and held various executive leadership roles including in the investment banking industry with Merrill Lynch & Co, where he facilitated a number of major transactions. Curtis holds an MBA with a concertation in Finance from the University of Chicago, and a Bachelor of Science in Chemical Engineering from Princeton University.

As part of his employment as Interim CEO, Mr. McWilliams will be granted 550,000 options with exercise price equal to the NOK equivalent of $1.64 per share at the time exercise. See further details about the granting of share options in the attached form. It has been agreed between Mr. McWilliams and Kalera that Mr. McWilliams will receive no fixed annual cash compensation for his Interim CEO services.

About Kalera

Kalera is a vertical farming company headquartered in Orlando, Florida. Kalera uses technology to ensure that more people around the world have access to the freshest, most nutritious, and cleanest products available. It has spent several years optimizing plant nutrient formulas and developing an advanced automation and data acquisition system with Internet of Things, cloud, big data analytics and artificial intelligence capabilities. Kalera currently operates farms in the US (Orlando, Florida; Atlanta, Georgia; and Houston, Texas), and Kuwait. Additional farms are in development. More information is available at www.kalera.com.